Indicate the type of account (asset, contra-asset, liability, shareholders equity, revenue, expense, or dividends declared) and whether
Question:
Indicate the type of account (asset, contra-asset, liability, shareholders’ equity, revenue, expense, or dividends declared) and whether it normally has a debit balance or a credit balance:
a. Inventory
b. Cost of Goods Sold
c. Prepaid Rent
d. Wages Expense
e. Wages Payable
f. Interest Revenue
g. Equipment
h. Accumulated Depreciation, Equipment
i. Notes Payable
j. Common Shares
k. Cash
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Related Book For
Understanding Financial Accounting
ISBN: 9781119406921
2nd Canadian Edition
Authors: Christopher D. Burnley
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